SANTA FE, NEW MEXICO — New Mexico officials vowed to keep health insurance affordable as enrollment in the state climbed by 17 percent. The figure defied a nationwide decline driven by higher premiums and coverage losses following federal subsidy cuts.
State officials said the growth, the highest increase in enrollment in the country, indicates the commitment of the government in protecting access to health care despite US Congress’s decision not to extend enhanced federal tax credits.
“Health insurance should protect people against medical debt, not cause it,” said Health Care Authority Cabinet Secretary Kari Armijo.
“The Health Care Affordability Fund is not only helping New Mexicans stay covered but is shielding working families from massive costs when they use care,” the cabinet secretary added.
The Health Care Affordability Fund lowers premiums and out-of-pocket expenses for individuals who purchase insurance through BeWell NM, New Mexico’s health insurance marketplace. It offsets the loss of federal subsidies and helped protect consumers from rising costs of the national health care.
The expiration of enhanced subsidies has pushed insurance prices higher and contributed to more than 1 million people losing coverage across the United States. New Mexico, however, has taken a different path. The state utilized state resources so that residents are protected from the rising from being priced out of insurance.
Governor Michelle Lujan Grisham said, “affordability is a top priority.”
“The results speak for themselves. People urgently need affordable health care.”
And the state has proved it can deliver even at a time when federal support falls short, Grisham in a statement said.
National data from Kaiser Family Foundation (KFF) show many people are forced into high-deductible plans amid rising costs with an average deductible of $7,476. The high costs discouraged people from seeking care.
In New Mexico, however, the opposite is happening. Records showed enrollment in high-deductible Bronze plans fell from 3.4 percent to 3.1 percent. On the other hand, there is an increase of sign-ups for Turquoise Plans that offer the lowest out-of-pocket expenses in the state marketplace.
To keep health insurance affordable, House Majority Leader Reena Szczepanski introduced House Bill 4. The bill would increase revenue to fund the Health Care Affordability Fund.
“House Bill 4 is one of the most critical bills we will hear this session,” Szczepanski said.
The bill, according Szczepanski, ensures that families won’t “lose health coverage because of decisions made far outside our state.”
House Bill 4, the lawmaker said, has the support across the aisles “to keep care affordable, stabilize our health system, and put people first with this bill.”